Las Vegas water rights not what they used to be

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In 2012 The Walters Group, a golf course outfit, offered millions of dollars of water rights at $25,500 per acre foot. Two years later, the going price seems to have dropped:

The Walters Group is immediately offering for sale 200 acre feet of fully transferable Las Vegas Water Rights at the rate of $20,000 per acre foot which is current market value. The water rights are fully transferable. The nature of these Las Vegas water rights is the most highly valuable designation for water rights available in the State of Nevada. Investors may elect to purchase these water rights in full, as single transaction of all two hundred (200) or in blocks of as few as two (2) acre feet.

I thank Brett Walton for bringing this to our attention.